In this May 29, 2014, file photo, Phil Mickelson reacts after making double bogey on the 17th hole during the first round of the Memorial Golf Tournament in Dublin, Ohio. (AP Photo/Jay LaPrete, File)

(Newser)
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The Securities and Exchange Commission is filing a complaint against professional golfer Phil Mickelson related to insider trading, the AP reports. The SEC says gambler William Walters received tips and business information about Dean Foods Co. from Thomas Davis, former head of Dean Foods, between 2008 and 2012. The SEC says Walters called Mickelson, who owed him money, in 2012 and urged him to trade Dean Foods stock. The SEC says Mickelson did so the next day, buying 240,000 shares and making a profit of $931,000, per ESPN. He then used that money to pay Walters back his IOU a few months later, the SEC says.

Mickelson's attorney told ESPN on Thursday that the golfer, who wasn't charged criminally, has made a deal with the SEC that involves him returning all money made from that trade—what the SEC refers to as "all ill-gotten gains in the form of illicit trading profits," per USA Today. Mickelson was not in the field at the AT&T Byron Nelson tournament in Irving, Texas, where play began Thursday morning. Walters, meanwhile, was arrested in Las Vegas Wednesday and charged with insider trading; he's set to appear in court Thursday. (The New York Times offers a more in-depth look, including more on Walters, often said to be the best sports bettor in the US.)

What's new the rich always have inside information on what going on.. That's why they stay rich and we're just working stiffs.. I can sleep well knowing I don't steal or cheat for my money.. He wasn't going to jail either way.. Money talks and BS walks...